Escrow

An escrow account is where you can put money to ensure that your real estate taxes get paid on time. Escrow accounts may be managed by either a mortgage company or the homeowner himself. Putting money in escrow means to set money aside in this account for real estate taxes. Learn the pros and cons of who should manage an escrow account.

Featured Escrow Article

Installment Contract for Deed Can Result in Mortgage Fraud

A home buyer purchased a home using an installment contract for deed. She paid an escrow company, which then paid out her mortgage, taxes, insurance and homeowner association dues - or so she thought. Now she finds out that the escrow company/mortgage broker hasn't been making any payments, and the house could be foreclosed upon. Is she a victim of mortgage fraud? What should she do now?

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